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Byline: DAVID SAITO-CHUNG
Last week's column noted that the heavy construction gear sector has made its mark on the Big Cap 20 in the form of Caterpillar.
Amid the thicket of energy names still dominating the rankings, the medical sector has secured a plot among the greener areas of the big-cap pasture as well.
This should come as no surprise.
After all, health care makes up nearly one-seventh of U.S. gross domestic product. Among IBD's 197 industry groups and subgroups (see table on B4), 14 belong to this sector.
Meanwhile, technology has rapidly changed the way patients are treated. As the nation's baby boomers advance in years, their demand for medicine, devices and services is headed higher, observers say.
"We like the demographics," Frank Mastrapasqua, lead manager of Touchstone Growth Opportunities Fund, was quoted as saying in a July 20 Mutual Funds section article. "Health care is growing faster than the economy as a whole."